⚡️scoop: FTX is spending money to push a law thru congress that may force defi protocols to operate like centralized exchanges.
The proposal is called the Digital Commodities Consumer Protection Act.
A better name would be the Digital Commodities FTX Protection Act.
The proposal is called the Digital Commodities Consumer Protection Act.
A better name would be the Digital Commodities FTX Protection Act.
One step closer to the universal translator. Thousands of languages around the world have no standard written form, yesterday Meta AI team released a breakthrough in translating them: the first Hokkien language translation system
Facebook
A new AI-powered speech translation system for Hokkien pioneers a new approach for a primarily oral language
We're open-sourcing the first AI-powered translation system for an unwritten language. Our technology allows speakers of Hokkien (which is widely spoken within the Chinese diaspora but lacks a standard written form) to hold conversations with English speakers.
German bank N26 launches crypto trading to its over 7 million customers
European digital bank N26 announced that it is launching a crypto trading service for its customers. Notably, Austria is set to be the first market for the said launch.
The Germany-based bank will make use of crypto exchange Bitpanda’s trading and custody platform to give bank’s customers access to crypto. The service, called N26 Crypto, is set to become available to the bank′s Austrian clients in the coming weeks and it will initially include 100 tokens including Bitcoin, Ethereum, Cardano, and XRP among others.
N26 plans to roll out the feature to users in other markets over the next six months and eventually expand its token offering to include a total of 194 tokens.
European digital bank N26 announced that it is launching a crypto trading service for its customers. Notably, Austria is set to be the first market for the said launch.
The Germany-based bank will make use of crypto exchange Bitpanda’s trading and custody platform to give bank’s customers access to crypto. The service, called N26 Crypto, is set to become available to the bank′s Austrian clients in the coming weeks and it will initially include 100 tokens including Bitcoin, Ethereum, Cardano, and XRP among others.
N26 plans to roll out the feature to users in other markets over the next six months and eventually expand its token offering to include a total of 194 tokens.
CNBC
Europe’s $9 billion digital bank N26 launches crypto trading service amid bear market
An N26 executive said interest in cryptocurrencies "remains super high, even in a bear market."
OpenAI in advanced talks with Microsoft for more funding
OpenAI, whose text- and image-generating artificial intelligence has become a mainstream hit, is in advanced talks to raise more funding from Microsoft, which previously backed the startup with capital that includes credits to use Microsoft’s Azure cloud computing services to develop its technology, according to a person with knowledge of the discussions.
A new deal could help Microsoft grow Azure usage, one of its top priorities, while keeping OpenAI’s business away from rivals including Amazon Web Services and Google Cloud.
The talks follow a previously undisclosed sale of OpenAI stock by existing shareholders last year to investors including Sequoia Capital, Tiger Global Management, Bedrock Capital and Andreessen Horowitz.
In that deal, the price of the shares implied a valuation of nearly $20 billion for the seven-year-old startup, said several people with knowledge of the deal.
OpenAI, whose text- and image-generating artificial intelligence has become a mainstream hit, is in advanced talks to raise more funding from Microsoft, which previously backed the startup with capital that includes credits to use Microsoft’s Azure cloud computing services to develop its technology, according to a person with knowledge of the discussions.
A new deal could help Microsoft grow Azure usage, one of its top priorities, while keeping OpenAI’s business away from rivals including Amazon Web Services and Google Cloud.
The talks follow a previously undisclosed sale of OpenAI stock by existing shareholders last year to investors including Sequoia Capital, Tiger Global Management, Bedrock Capital and Andreessen Horowitz.
In that deal, the price of the shares implied a valuation of nearly $20 billion for the seven-year-old startup, said several people with knowledge of the deal.
The Information
OpenAI, Valued at Nearly $20 Billion, in Advanced Talks with Microsoft For More Funding
OpenAI, whose text- and image-generating artificial intelligence has become a mainstream hit, is in advanced talks to raise more funding from Microsoft, which previously backed the startup with capital that includes credits to use Microsoft’s Azure cloud…
A new report on DeFi regulation commissioned by the EU Commission was published.
This report will contribute to the EU policy debate on the topic that is expected to lead to a DeFi report (or even legislation) in 2023.
The report makes 4 policy proposals:
1. Regulate legal entities (macro-prudential provisions etc.)
2. Introduce a voluntary framework for DeFi supervision
3. Establish a public observatory that issues opinions based on public on-chain data ("embedded supervision")
4. Build an approach for oracle supervision/reg.
An interesting report that will definitely contribute to the current discussion across the pond on how DeFi should be approached from a policy/regulatory perspective.
This report will contribute to the EU policy debate on the topic that is expected to lead to a DeFi report (or even legislation) in 2023.
The report makes 4 policy proposals:
1. Regulate legal entities (macro-prudential provisions etc.)
2. Introduce a voluntary framework for DeFi supervision
3. Establish a public observatory that issues opinions based on public on-chain data ("embedded supervision")
4. Build an approach for oracle supervision/reg.
An interesting report that will definitely contribute to the current discussion across the pond on how DeFi should be approached from a policy/regulatory perspective.
Interpol to offer metaverse police training in virtual bureau, launch expert taskforce
The Interpol metaverse will allow registered users to tour a virtual copy of the Interpol General Secretariat headquarters in Lyon, France, it said in a news release.
Users will be able to interact with other officers via their avatars and take immersive training courses in forensic investigation and other policing capabilities.
It has formed an expert metaverse group to "represent the concerns of law enforcement on the global stage — ensuring this new virtual world is secure by design."
Interpol's commitment demonstrates a growing anxiety about the policing of online spaces, which are increasing in popularity as technology develops.
By 2026, one in every four people will spend at least an hour a day in the metaverse to work, study, shop and socialize, according to technology research firm Gartner.
“The metaverse has the potential to transform every aspect of our daily lives with enormous implications for law enforcement,” said Madan Oberoi, Interpol’s executive director of technology and innovation, in a statement. “But in order for police to understand the Metaverse, we need to experience it."
Interpol said that a list of possible offenses may include crimes against children, data theft, money laundering, financial fraud, counterfeiting, ransomware, phishing and sexual assault and harassment. It added that these may present challenges as not all acts that are criminalized in the physical world are considered crimes in the virtual world.
“For many, the Metaverse seems to herald an abstract future, but the issues it raises are those that have always motivated Interpol — supporting our member countries to fight crime and making the world, virtual or not, safer for those who inhabit it,” said Interpol Secretary General Jürgen Stock in a statement. “We may be entering a new world, but our commitment remains the same."
The Interpol metaverse will allow registered users to tour a virtual copy of the Interpol General Secretariat headquarters in Lyon, France, it said in a news release.
Users will be able to interact with other officers via their avatars and take immersive training courses in forensic investigation and other policing capabilities.
It has formed an expert metaverse group to "represent the concerns of law enforcement on the global stage — ensuring this new virtual world is secure by design."
Interpol's commitment demonstrates a growing anxiety about the policing of online spaces, which are increasing in popularity as technology develops.
By 2026, one in every four people will spend at least an hour a day in the metaverse to work, study, shop and socialize, according to technology research firm Gartner.
“The metaverse has the potential to transform every aspect of our daily lives with enormous implications for law enforcement,” said Madan Oberoi, Interpol’s executive director of technology and innovation, in a statement. “But in order for police to understand the Metaverse, we need to experience it."
Interpol said that a list of possible offenses may include crimes against children, data theft, money laundering, financial fraud, counterfeiting, ransomware, phishing and sexual assault and harassment. It added that these may present challenges as not all acts that are criminalized in the physical world are considered crimes in the virtual world.
“For many, the Metaverse seems to herald an abstract future, but the issues it raises are those that have always motivated Interpol — supporting our member countries to fight crime and making the world, virtual or not, safer for those who inhabit it,” said Interpol Secretary General Jürgen Stock in a statement. “We may be entering a new world, but our commitment remains the same."
www.interpol.int
INTERPOL launches first global police Metaverse
The virtual world allows INTERPOL to offer immersive training courses to law enforcement across the globe
Glassnode: The Bitcoin Hash Price has reached an all-time-low of $66,500 per Exahash.
This means that BTC miners are earning the smallest reward relative to hashpower applied in history, and likely puts the industry under extreme income stress.
This means that BTC miners are earning the smallest reward relative to hashpower applied in history, and likely puts the industry under extreme income stress.
Glassnode
Glassnode Studio - On-Chain Market Intelligence
Glassnode Studio is your gateway to on-chain data. Explore data and metrics across the most popular blockchain platforms.
Crypto-friendly Rishi Sunak to become UK Prime Minister
Rishi Sunak, who shepherded the U.K.’s new crypto ambitions during his time as finance minister, has been chosen to be the country’s next Prime Minister following Liz Truss’ controversial exit from office last week.
Sunak was chosen by his fellow Conservative Party members on Monday to replace Truss – who was in office for just 45 days and was forced to resign after her economic stimulus plan quickly unraveled leading to political and economic instability.
During his time as finance minister under former Prime Minister Boris Johnson, Sunak announced he wanted to turn the U.K. into a crypto hub. He helped usher in the Financial Services and Markets Bill, which, if passed into law, could give local regulators broad power over the crypto industry.
Rishi Sunak, who shepherded the U.K.’s new crypto ambitions during his time as finance minister, has been chosen to be the country’s next Prime Minister following Liz Truss’ controversial exit from office last week.
Sunak was chosen by his fellow Conservative Party members on Monday to replace Truss – who was in office for just 45 days and was forced to resign after her economic stimulus plan quickly unraveled leading to political and economic instability.
During his time as finance minister under former Prime Minister Boris Johnson, Sunak announced he wanted to turn the U.K. into a crypto hub. He helped usher in the Financial Services and Markets Bill, which, if passed into law, could give local regulators broad power over the crypto industry.
CoinDesk
Crypto-Friendly Rishi Sunak to Become UK Prime Minister Following Truss Exit
During his time as finance minister, Sunak unveiled plans to turn the country into an international hub for crypto.
Fable’s The Simulation lets you build a society of AIs based on character NFTs
Fable is launching its first town in The Simulation, a place called AI Nouns Town, where owners of NFTs can sign up and adopt AI characters.
Rather than play in a world with AI characters, Fable is letting the AI characters play in the worlds.
And if Fable puts enough of these worlds together, it can become a kind of metaverse.
The Simulation represents a pivot away from AI chatbot characters that enabled one-on-one communication between AI characters and humans.
Each land within The Simulation is kind of like the different lands within Disneyland. Only in this case, there is a different world for each different affiliated NFT. For instance, the company could have worlds dedicated to NFT art characters such as Bored Apes, Doodles, or Deadfellaz. Saatchi thinks of it as a “gonzo AI theme park,” or a Disneyland for NFTs.
The plan is to launch the first world in The Simulation in early 2023.
Fable is launching its first town in The Simulation, a place called AI Nouns Town, where owners of NFTs can sign up and adopt AI characters.
Rather than play in a world with AI characters, Fable is letting the AI characters play in the worlds.
And if Fable puts enough of these worlds together, it can become a kind of metaverse.
The Simulation represents a pivot away from AI chatbot characters that enabled one-on-one communication between AI characters and humans.
Each land within The Simulation is kind of like the different lands within Disneyland. Only in this case, there is a different world for each different affiliated NFT. For instance, the company could have worlds dedicated to NFT art characters such as Bored Apes, Doodles, or Deadfellaz. Saatchi thinks of it as a “gonzo AI theme park,” or a Disneyland for NFTs.
The plan is to launch the first world in The Simulation in early 2023.
VentureBeat
Fable’s The Simulation lets you build a society of AIs based on character NFTs
Fable has unveiled The Simulation, a place where you can create and nurture AI characters and enable them to dwell on their own.
Apple issues new app store rules for crypto and NFT payments
- Crypto-exchange apps need to have necessary regional licenses.
- NFT sales have to go through Apple’s in-app purchase system.
- Crypto-exchange apps need to have necessary regional licenses.
- NFT sales have to go through Apple’s in-app purchase system.
Bloomberg.com
Apple Issues New App Store Rules for Crypto and NFT Payments
Apple Inc. updated its App Store guidelines Monday with new and clearer language explaining its policy toward cryptocurrency trading and non-fungible tokens.
Crypto spreading across wealthy in Singapore, Hong Kong
Big Four accounting firm KPMG has indicated big interest in the crypto market from the wealthy elite of Singapore and Hong Kong.
KPMG surveyed 30 family offices and high net worth individuals across both regions for its inaugural Investing in Digital Assets report.
58% reported skin in the crypto game while a further 34% intend to allocate funds to bitcoin, stablecoins and ether, as well as decentralized finance (DeFi) opportunities.
KPMG only gathered responses from investors whose assets under management ranged between US$10 to $500 million.
Of the 58% already invested in crypto:
• 100% held bitcoin,
• 87% disclosed ether,
• 60% bought NFTs and other metaverse tokens,
• 47% had DeFi tokens.
Beyond the actual assets, 58% of respondents also said they were investing in crypto service providers including exchanges and software developers.
The study was conducted jointly between KPMG China and financial services company Aspen Digital.
Results were taken during the second quarter of this year. At the time, markets across the board were in turmoil due to macroeconomic conditions, such as rising inflation, taking center stage.
Big Four accounting firm KPMG has indicated big interest in the crypto market from the wealthy elite of Singapore and Hong Kong.
KPMG surveyed 30 family offices and high net worth individuals across both regions for its inaugural Investing in Digital Assets report.
58% reported skin in the crypto game while a further 34% intend to allocate funds to bitcoin, stablecoins and ether, as well as decentralized finance (DeFi) opportunities.
KPMG only gathered responses from investors whose assets under management ranged between US$10 to $500 million.
Of the 58% already invested in crypto:
• 100% held bitcoin,
• 87% disclosed ether,
• 60% bought NFTs and other metaverse tokens,
• 47% had DeFi tokens.
Beyond the actual assets, 58% of respondents also said they were investing in crypto service providers including exchanges and software developers.
The study was conducted jointly between KPMG China and financial services company Aspen Digital.
Results were taken during the second quarter of this year. At the time, markets across the board were in turmoil due to macroeconomic conditions, such as rising inflation, taking center stage.
How medical imaging AI makes its predictions
A group of researchers is trying to elucidate how models that predict things like blood clots from medical images actually make those predictions — including by identifying the part of the image that most affects the prediction.
In a recent study in Nature Machine Intelligence, a research team examined how several “saliency methods” stacked up to radiologists.
Spoiler: Not all of them did as well as radiologists when localizing pathologies.
A group of researchers is trying to elucidate how models that predict things like blood clots from medical images actually make those predictions — including by identifying the part of the image that most affects the prediction.
In a recent study in Nature Machine Intelligence, a research team examined how several “saliency methods” stacked up to radiologists.
Spoiler: Not all of them did as well as radiologists when localizing pathologies.
Nature
Benchmarking saliency methods for chest X-ray interpretation
Nature Machine Intelligence - Saliency methods are used to localize areas of medical images that influence machine learning model predictions, but their accuracy and reliability require...
Nearly half of younger people want Crypto exposure in 401(k)s, Schwab Study Says
The young, at least in the US, are leaning less on traditional 401(k)s to save for retirement — increasingly favoring fresh options such as crypto, per a new Charles Schwab study.
The study found that 37% of Gen Z workers and 54% of millennials say their first investing experience was through a 401(k) — lower than 61% for both Gen X and baby boomers.
Instead, the two younger segments are more likely to also invest in crypto, real estate, annuities and small businesses than their older counterparts. Roughly 22% of Gen Z workers first got involved in investing through mobile trading, the study found, while 11% first invested in crypto.
The young, at least in the US, are leaning less on traditional 401(k)s to save for retirement — increasingly favoring fresh options such as crypto, per a new Charles Schwab study.
The study found that 37% of Gen Z workers and 54% of millennials say their first investing experience was through a 401(k) — lower than 61% for both Gen X and baby boomers.
Instead, the two younger segments are more likely to also invest in crypto, real estate, annuities and small businesses than their older counterparts. Roughly 22% of Gen Z workers first got involved in investing through mobile trading, the study found, while 11% first invested in crypto.
The economic opportunity of using LLMs/generative AI to build a next-gen search engine might be bigger than the opportunity for using LLMs for literally everything else, combined.
The real Q is—will Google move fast enough to win? Or will someone else (Bing/OpenAI, startup)?
And remember it https://xn--r1a.website/alwebbci/335
The real Q is—will Google move fast enough to win? Or will someone else (Bing/OpenAI, startup)?
And remember it https://xn--r1a.website/alwebbci/335
Telegram
All about AI, Web 3.0, BCI
OpenAI in advanced talks with Microsoft for more funding
OpenAI, whose text- and image-generating artificial intelligence has become a mainstream hit, is in advanced talks to raise more funding from Microsoft, which previously backed the startup with capital…
OpenAI, whose text- and image-generating artificial intelligence has become a mainstream hit, is in advanced talks to raise more funding from Microsoft, which previously backed the startup with capital…
Stability AI CEO discussed $1 Billion in new financing
Emad Mostaque, the former hedge fund manager who made his startup, Stability AI, one of the most visible standard-bearers of software that creates original images from simple text descriptions, could soon test the limits of hype around the new technology.
After raising $100 million of venture capital in three successive equity funding deals in the last two months, most recently at up to a $1 billion valuation, Mostaque recently told investors he wanted to raise an additional $1 billion of capital at a multibillion-dollar valuation.
His ambition to raise more funding is particularly notable because the British entrepreneur has been making claims about Stability’s momentum compared to an older rival, San Francisco–based OpenAI.
And Mostaque recently kicked up a dust storm among other artificial intelligence startups over his description of the company’s role in developing a prominent machine-learning model for AI-created imagery.
Emad Mostaque, the former hedge fund manager who made his startup, Stability AI, one of the most visible standard-bearers of software that creates original images from simple text descriptions, could soon test the limits of hype around the new technology.
After raising $100 million of venture capital in three successive equity funding deals in the last two months, most recently at up to a $1 billion valuation, Mostaque recently told investors he wanted to raise an additional $1 billion of capital at a multibillion-dollar valuation.
His ambition to raise more funding is particularly notable because the British entrepreneur has been making claims about Stability’s momentum compared to an older rival, San Francisco–based OpenAI.
And Mostaque recently kicked up a dust storm among other artificial intelligence startups over his description of the company’s role in developing a prominent machine-learning model for AI-created imagery.
The Information
Stability AI CEO, After Ruffling Feathers of Researchers, Discussed $1 Billion in New Financing
Emad Mostaque, the former hedge fund manager who made his startup, Stability AI, one of the most visible standard-bearers of software that creates original images from simple text descriptions, could soon test the limits of hype around the new technology.…
A16z’s flagship crypto fund lost 40% market value in the first half of this year, losing $2.9billion in its remaining stake in Coinbase alone.
Only 9 deals to crypto startups were announced in the third quarter of this year.
Only 9 deals to crypto startups were announced in the third quarter of this year.
WSJ
Andreessen Horowitz Went All In on Crypto at the Worst Possible Time
Partner Chris Dixon, who was one of the earliest evangelists for the blockchain technology powering cryptocurrencies, says he has “a very long-term horizon.”
EY will prepare clients for the metaverse and Web3 with virtual experiences
Ernst & Young will expand the network’s capability to help clients co-innovate and rapidly help address business challenges.
Ernst & Young’s U.S. operation has also established a metaverse lab where technologists build customized metaverse environments for various use cases.
Together, EY wavespace and the EY metaverse lab are guiding clients through immersive digital experiences to help them anticipate new business models and shift to a decentralized economy arising out of Web3-based applications and platforms. EY typically does this during big tech transitions, and this move means that it sees the potential of Web3 and the metaverse to transform business.
Ernst & Young will expand the network’s capability to help clients co-innovate and rapidly help address business challenges.
Ernst & Young’s U.S. operation has also established a metaverse lab where technologists build customized metaverse environments for various use cases.
Together, EY wavespace and the EY metaverse lab are guiding clients through immersive digital experiences to help them anticipate new business models and shift to a decentralized economy arising out of Web3-based applications and platforms. EY typically does this during big tech transitions, and this move means that it sees the potential of Web3 and the metaverse to transform business.
Ey
Metaverse: new interaction between businesses and consumers
EY teams are harnessing the metaverse to help create long-term business value and positive human impact. Learn more.
Hong Kong to Make Retail Crypto Trading Legal
Hong Kong plans to legalize retail trading of cryptocurrency as it looks to become a crypto hub, according to a Bloomberg report.
Crypto platforms will be required to apply for a license to offer retail trading, according to the report, which cited people familiar with the matter.
The city wants to reestablish its reputation as a global financial hub.
The move contrasts with mainland China, where crypto is banned.
Hong Kong has its own financial and judicial systems, separate from the Chinese mainland, as part of the “One Country, Two Systems” framework under which it is governed.
Hong Kong plans to legalize retail trading of cryptocurrency as it looks to become a crypto hub, according to a Bloomberg report.
Crypto platforms will be required to apply for a license to offer retail trading, according to the report, which cited people familiar with the matter.
The city wants to reestablish its reputation as a global financial hub.
The move contrasts with mainland China, where crypto is banned.
Hong Kong has its own financial and judicial systems, separate from the Chinese mainland, as part of the “One Country, Two Systems” framework under which it is governed.
Bloomberg.com
Hong Kong Plans to Legalize Retail Crypto Trading to Become Hub
Hong Kong is pivoting toward a friendlier regulatory regime for cryptocurrencies with a plan to legalize retail trading, contrasting with the city’s skeptical stance of recent years and the ban in place in mainland China.
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Google Cloud Web3 launches Blockchain Node Engine for Ethereum developers, a fully managed cloud service where users don't have to hire their own teams to maintain or monitor their nodes.
It will expand the service to more blockchain networks in the future.
It will expand the service to more blockchain networks in the future.
Google Cloud Blog
Introducing Blockchain Node Engine | Google Cloud Blog
Blockchain Node Engine, a fully managed node-hosting service, is available for Ethereum.